Business
TPIL Announces Outcome of Strategy Review
TPIL Announces Outcome of Strategy Review.
About this update from Malibu Life Holdings Limited
[{"type":"text","content":"\n\n \n \n\n\n\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.THE FOLLOWING ANNOUNCEMENT IS AN ADVERTISEMENT AND NOT A PROSPECTUS OR PROSPECTUS EQUIVALENT DOCUMENT AND INVESTORS SHOULD NOT MAKE ANY INVESTMENT DECISION IN RELATION TO THE ORDINARY SHARES EXCEPT ON THE BASIS OF THE INFORMATION IN THE PROSPECTUS WHICH IS PROPOSED TO BE PUBLISHED IN DUE COURSE.THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.FOR IMMEDIATE RELEASE. 21 May 2025Third Point Investors Limited Outcome of Strategy Review and Proposed All-Share Combination \tProposed all-share combination with Malibu Life Reinsurance SPC to create a fast-growing, fully capitalised, London-listed, reinsurance operating company \tTransaction unanimously recommended by the Strategy Committee following conclusion of Strategy Review \tPotential tender offer of at least $75 million to effect rotation of Shareholders seeking liquidity Third Point Investors Limited (the \"Company\") is pleased to announce that it has entered into a sale and purchase agreement to acquire Malibu Life Reinsurance SPC (\"Malibu\"), an established reinsurance platform focused on the US fixed annuity market (the \"Acquisition\"). The Company will acquire Malibu from Malibu Life Holdings LLC (the \"Seller\"), (which is wholly owned by Third Point Opportunities Master Fund L.P. (\"Third Point Opportunities\")) in exchange for the issue of new ordinary shares in the Company (the \"Consideration Shares\") on a \"NAV for NAV\" basis. The Acquisition is subject to, inter alia, the approval of Shareholders, and the Company will convene an extraordinary general meeting (the \"EGM\") at which the Company will propose resolutions to approve the Acquisition and certain related matters and to implement the potential tender offer. Strategic rationale for proposed Acquisition\tThe proposed all-share combination of the Company and Malibu on a \"NAV for NAV\" basis is expected to create a fast-growing reinsurance operating company, targeting mid-teens return on equity by the end of 2027 \tMalibu is an established annuity reinsurance platform focused on predictable liabilities within the estimated $1 trillion and growing fixed annu...